Ethereum (ETH) Set To Break All-time High: Analyst Eyes $8,348 Target
Ethereum (ETH) is capturing attention with its resilience and potential for a significant uptrend. Analysts and investors are closely monitoring ETH as it holds firm above key support levels, signaling a bullish trajectory ahead. Meanwhile, Bitcoin (BTC) is encountering hurdles in maintaining its crucial support, facing selling pressure that threatens its upward momentum.
Altcoin Sherpa, a prominent crypto analyst, highlighted Ethereum’s promising outlook, predicting an inevitable move toward its all-time high (ATH). “The current supply zone presents a compelling opportunity, despite short-term volatility,” Altcoin Sherpa noted, emphasizing the potential for ETH to break through resistance levels.
$ETH To ATH is still inevitable. I don't know when or how it gets there but this supply zone is going to break eventually. Still seems like a guarantee and a fairly safe trade you can take (as long as you can eat the short-term drawdown).
As of the latest update, ETH is trading at $3,569.32, reflecting a modest 0.80% increase in the past 24 hours. The coin’s robust trading volume of $24.28 billion and a market capitalization of $428.81 billion underscore its strong market position and investor confidence.
While ETH strengthens its foothold, Bitcoin’s struggle to sustain above the critical $66,000 support level remains a focal point. Analysts warn that a failure to hold this level could trigger a corrective phase, impacting market sentiment across the board.
Analyst Predicts +75% Gain to $8348 For Ethereum (ETH)
Renowned crypto analyst Javon Marks recently shared an optimistic forecast for Ethereum (ETH), highlighting significant price gains ahead. According to Marks, ETH has surged by a remarkable +240% after breaking through key resistance levels, nearly touching $4723.5 before a slight retracement.
The substantial uptick in Ethereum’s price indicates a robust bullish trend, suggesting that a breakout phase may be underway. Analysts are optimistic that any retracements could provide renewed buying opportunities, potentially fueling further upward momentum towards the critical $4723.5 target.
With Ethereum currently consolidating just below $4723.5, there is fast-growing speculation that prices could gain more than 31.5% to breach this key level. The analyst believes a successful breakout above $4723.5 may take Ethereum towards $8348.6 for another gain of about +75%.
Market sentiment still looks to be cautiously optimistic as Ethereum’s price gets scrutinized by investors given the ongoing volatility across the crypto markets. As the crypto community waits in anticipation, all eyes are on whether Ethereum can sustain its bullish trajectory and potentially reach new all-time highs in the near future.
